You are right on Mick. A correction for the overall good is in effect. Interest rates are at 6-7 for consumers and will be soon for discount borrowers. Housing will eventually stabilize and liquidity return. These economic times come and go in our system over and over, and each event is hailed as the worst ever yada yada yada. I've seen it time and again since the late 80's when I got out into the real world. Heck, in the 80's a 12% home loan was not unheard of. Heres what will happen; we will shit can the current idiots at the top, get some new idiots and you and I the average schmo will do the best we can as always. The great thing about our system even in these days is its flexibility. Thats our advantage over the Ruskies or the Chinese.